Net Asset Value Takes into Account

question 63

Multiple Choice

Net asset value takes into account:

• A) both realized and unrealized capital gains.
• B) only realized capital gains.
• C) only unrealized capital gains.
• D) neither realized or unrealized capital gains.

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Definitions:

Advance Payment

Advance Payment is the money paid before it is due or before the goods or services are received, often used to secure orders or as a guarantee against non-payment.

Subsidiary Ledger

A secondary ledger that provides detailed information to support accounts listed in the general ledger, such as customer or vendor details.

Revenue Journal

An accounting ledger that records incoming revenue transactions or sales made by a company.

General Ledger

A complete ledger detailing every fiscal activity during the lifespan of a business.